Insurance provider AIA has announced it will waive fees on certain products for two years for new clients.
The company will forgo fees for two years on business Priority Protection (PP) and Priority Protection for Platform Investors (PPPI) policies, as well as the AIA Vitality health program, for clients who apply for the products from today until 31 March 2018.
“AIA is continually looking for opportunities to demonstrate its support for improving the long-term wellbeing and health of clients through its adviser networks,” said AIA Australia chief retail insurance officer Pina Sciarrone.
“That is why we are waiving fees on PP and PPPI policies and AIA Vitality, to ensure advisers can offer more value to their clients.”
Ms Sciarrone said engagement with the AIA Vitality program had resulted in a drop in lapse rates for both PP and PPPI policies, with clients using the program being up to 40 per cent less likely to let their policies lapse.
“AIA understands that when clients embrace the value of life insurance and positive health behaviours at the same time, they go a long way to leading longer, healthier, happier lives whilst protecting their future,” she said.
The company is looking to expand its services for financial advisers.
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“All advice should be regulated in a similar way”, a financial services firm has argued in its QAR submission.
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